Conseco (CNC) - Get Report said Wednesday that it named Charles Chokel as chief financial officer, replacing Tom Hagerty, who had been acting as financial chief for the past eight months.

The life insurance and financial services company said Chokel joins the company after 23 years at auto insurance company

Progressive

(PGR) - Get Report

, where he was the co-chief executive responsible for investments and capital management. Additionally, Chokel will be nominated to serve on Conseco's board.

Hagerty, who will remain on Conseco's board, resumes his duties as a partner at private equity firm

Thomas Lee Partners

. The firm owns about 7% of Conseco's common stock.

Shares of Conseco were lately up 42 cents, or 2.9%, to $14.98 in composite trading on the

New York Stock Exchange

.